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20121001
20121031
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Search Results 0 to 49 of about 79 (some duplicates have been removed)
that you talked about? >> no, thanks. >> have a great weekend, fred canon of kbw. >> i'm diane eastabrook in chicago. still ahead, is the housing market ready to rally? i'll tell you what one expert thinks. >> susie: american consumers are feeling pretty good about the economy. the university of michigan's latest reading on consumer sentiment hit a five-year high. that comes as the treasury reports the u.s. budget deficit topped $1 trillion in fiscal 2012. that's our fourth-largest budget deficit since world war two. that held wall street's gains in check: the dow rose 2.5 points, the nasdaq fell five. the s&p down four. for the week, the major averages were all off more than 2%. the nasdaq was hit the worst, down almost 3%. >> susie: a new housing boom? >> susie: a new housing boom? a lot of talk and headlines about a recovery in housing. even consumers are feeling more confident as they see signs of a pick up in housing. next week we'll get more direction on where the nation's housing market is headed with the latest monthly numbers on new home construction and sales of existing homes.
. >. >> i'm diane eastabrook in chicago. still ahead, is the housing market ready to rally? i'll tell you what one expert thinks. >> susie: american consumers are feeling pretty good about the economy. the university of michigan's latest reading on consumer sentiment hit a five-year high. that comes as the treasury reports the u.s. budget deficit topped $1 trillion in fiscal 2012. that's our fourth-largest budget deficit since world war two. that held wall street's gains in check: the dow rose 2.5 points, the nasdaq fell five. the s&p down four. for the week, the major averages were all off more than 2%. the nasdaq was hit the worst, down almost 3%. giov >> i think it's very hard to predict real estate prices now because the world is in such an unusual situation. there are so many ifs. and because we just recovered from the biggest housing bubble in u.s. history. so we're really in uncharted territory right now. >> reporter: shiller says one problem for the housing market is there is really no sense of urgency for potential home buyers to pull the trigger on a purchase. interest rates are
work, but some have gone willingly. as we wrap up our series "freelance nation," diane eastabrook introduces us to a freelancer who left full-time employment by choice and may never go back. >> reporter: it's break time for shari schmidt. but the 48-year-old marketing consultant's office isn't in a chicago office tower-- it's the kitchen in her suburban home. schmidt is a freelancer. >> most people go in, they have lunch, they go home. i don't do that it's a little bit more flexible and that is one of the great advantages. >> reporter: schmidt gave up a full-time marketing gig 14 years ago when she married her husband tom. she wanted to concentrate on starting a family and had twins abigail and allison five years later. through an agency, schmidt has gotten work consistently ever since. she's been on her current project for four years, making up to $85,000 annually. >> by freelancing i was able to keep my resume active, so some really interesting projects and keep my name out there and stay home. i could pick and choose some projects, i could work as many hours or as few hours as
. >> reporter: i'm diane eastabrook in aurora illinois. still ahead, the help wanted sign is out at dyson. >> susie: on wall street today, the u.s. bond market was closed for the columbus day holiday, but stocks were trading. the major averages were in the red as investors brace for the worst earnings season in three years. the flood of third quarter results kicks off tomorrow with dow component alcoa reporting its sultaftethe be. ahead of that, the dow fell 26 points, the nasdaq lost 23, the s&p down five points. joining us now to talk more about quarterly earnings, and the outlook for the markets: scott wren, senior equity strategist at wells fargo advisors. hi, scott, i want to start off by getting your take on quarterly earnings. looking here on this graph about what the forecast had been calling for is a drop of 2.4% in third quarter earnings year-over-year. it will be the first decline in 11 quarters. and over the last couple of weeks we have he been getting a steady stream of earnings warnings. so scott, will the numbers really be that bad? >> well, sus yeaux, you know, they could
farmers will produce about 15% fewer apples this year than last. as diane eastabrook reports the culprit was strange spring weather. >> these are the fruit buds right here ready for next year. >> reporter: hopefully, next year will be a lot better than this year for wade kuiper. the northern illinois farmer estimates he lost nearly half of his apple crop after an april frost killed off blossoms that bloomed during a march warm spell >> that cold air settled down, and then it would freeze the buds off. at the 28-degree mark, you're going to lose 10%. at the 25-degree mark, you're going to get a 90% kill. >> reporter: kuiper says he probably wouldn't have had any apples this year if he hadn't installed a huge propane fan to blow warm air over his 8,000 trees. still, many of the apples that survived are marked with frost rings. illinois apple growers are expected to produce their smallest apple crop in decades. the state estimates they'll only produce about 26 million pounds of apples this year. they produced 40 million pounds last year. fortunately for kuiper, the summer drought helped yie
% year over year. but as diane eastabrook reports analysts think those unseasonably high prices will drop by the holidays. >> reporter: it's nearly a month into fall, but $4-plus gasoline in many markets sure makes it feel like the summer driving season. so what gives? >> the driving season: pretty healthy unfortunately and with that the unleaded gas prices were able to stay pretty high at the pump. >> reporter: standard and poor's ben toscanos offers another perspective. >> gasoline prices are driven by world wide oil prices and oil prices have been high. >> reporter: wle the price for barrel of west texas intermediate is up more than $12 since june, the price of north sea brent is up more than double that. analysts point to tensions in the mideast and continued robust demand from china for keeping crude prices high. higher global oil prices, demand, and some refinery outages have helped nudge up domestic pump prices through the fall. in the first week of october they were 44 cents a gallon higher than the same time last year. analysts thinks crude prices will eventually drop this fall a
for the 2013 holiday season. >> this is diane eastabrook in chicago. the temperatures are falling so why aren't gas prices falling too. i'll have details coming up. >> susie: japanese telecom giant softbank is taking control of sprint nextel. it's paying $20 billion for a 70% stake in the third largest u.s. cellular carrier. if the deal is approved, it will give softbank a big presence in the fast-growing u.s. telecom market. sylvia hall reports. >> reporter: right now, sprint is the third-largest u.s. wireless company. and with cash on hand from the softbank deal, it could completely change the market. sprint currently owns half of a company called clearwire, a major holder of the industry's hottest commodity-- wireless spectrum. >> it will allow sprint later on to potentially buy all of clearwire, and create a spectrum powerhouse in the u.s. that will allow it to provide unlimited data services for a much longer time than any other carrier in the u.s. >> reporter: spectrum is pretty simple. it's the radio waves use to transmit things like radio and television broadcasts, police communicatio
year. and as diane eastabrook reports, that could mean fewer jobs in an industry that has been a bright spot in the u.s. economy. >> reporter: last year, bison gear and engineering was firing on all cylinders. sales of gears and motors to restaurant, packaging and health care equipment companies were up 20%. business was so good, the company added 17 full-time jobs to the more than 200 it already had. then this spring, something happened. >> the air just kind of went out of the soufflÉ on our sales to our original equipment manufacturers. >> reporter: what's happening at bison gear appears to be happening at other manufacturers, as well. of the 900 firms recently surveyed by business consultant mcgladrey, 39% thought tir businesses were thriving and growing versus 45% last year. there was also a slight up-tick in the percentage of companies who think business is declining. some of the increased pessimism is attributed to slow growth in europe and china. but mcgladrey's karen kurek says some of it is homegrown. she says about three quarters of the firms surveyed worry about the expirati
told investors seed sales should jump. diane eastabrook has details. >> reporter: analysts say monsanto's fourth quarter earnings took a hit because farmers purchased the bulk of their corn and soybean seeds earlier this year. excluding special items, monsanto lost $.44 a share in the quarter that ended august 31, double what it lost in the same quarter last year, and bigger than analysts expected. but the company thinks t bad news ends there. monsanto forecast seed sales to increase just shy of 20% in the current fiscal year. analysts think that's a reachable target because international sales should be strong and u.s. farmers will be rebounding from last summer's drought. >> in terms of impact of the drought grains stocks are low so corn and soybeans and the other seeds that they sell are going to need to be planted in great quantities so that should also deliver growth. >> reporter: werneth thinks even if the economies here and abroad worsen next year, monsanto should still reap solid profits because in good times and bad, people and animals still have to eat. diane eastabrook, "n.b.
online. the national retail federation says internet sales will be up 15% this year. as diane eastabrook reports, new technology is making it easier to play santa. >> reporter: there are just 74 shopping days left until christmas. >> it needs to go back a little. >> reporter: retailers like macy's are decking the halls, hoping to lure in shoppers. but this year, it may take more than fancy window dressing. growth in online sales is expected to far outpace overall industry growth this holiday season. experts say part of the reason is internet retailers are getting a lot better at what the they do. >> the sites are easy to navigate, they got the right selection of products, the pricing is sharp, they process the order, they get you the goods. >> reporter: technology is the other reason. the proliferation of tablet computers and smart phones make it easier for consumers to shop online and price-compare anytime, anywhere. with smart phones comprising roughly half of all mobile phones, experts expect to see more "showrooming" this year. that's when shoppers visit a store, scan an item for a p
with community colleges to change that. diane eastabrook has details. >> reporter: a couple of years ago, acme industries was in a dilemma. orders for precision parts used oil and gas drilling equipment were flooding into the suburban chicago manufacturer, but c.e.o. warren young was having trouble hiring new employees for the extra work. >> they didn't have the kind of skills that we needed, and our mode was not to hire somebody who didn't know hardly anything. >> reporter: acme's problem led to a unique partnership with nearby harper college. c.e.o. young helped the college develop its new advanced manufacturing program, which trains students for high-demand jobs in automation, machining, metal fabrication, and supply chain management. 23-year-old marc bonfiglio is among the first students. he was a struggling musician who's found a new passion, welding. >> it's fire, it's electricity, and you get to see, at the end of the day, a process or a project that you're working on being completed or further along. >> reporter: harper's advanced manufacturing program takes anywhere from a year to two
market as americans are taking on more home improvement projects. diane eastabrook takes a look at how that pick-up in housing is spreading to other parts of the economy as well >> reporter: it looks like home sales are finally out of the dog house. with mortgage rates at historic lows, housing starts have reached their highest levels in four years. wells fargo housing economist richard dekaser says housing currently comprises only about 2.5% of u.s. gross domestic product, but as it improves, he thinks it will have a dramatic influence on the economy. >> people go out and they buy new homes, and they purchase various kinds of merchandise furniture and appliances, for instance. that has a ripple effect which makes its way into the broader economy, and ultimately this has a powerful effect on overall macro-economic growth. >> reporter: that's already beginning to happen for home improvement chains like home depot and lowes. the stocks of both companies have been tracking improvement in the housing market for several months. >> what we are seeing is tt, with the improvement in the unempl
is beginning to wane, threatening to turn manufacturing into a drag on the economy. diane eastabrook has details. >> reporter: there was both good and bad news today for u.s. manufactures. the good news: financial information firm markit said its flash purchasing managers index showed modest improvement in tober, increasing to 51.3 from 51.1 in september. a reading above 50 is considered positive. now, comes the bad news. markit said its most recent survey of roughly 600 u.s. factories found growth in new orders slowed to a modest pace this month. while hiring increased slightly it did so at the slowest pace in two years. and finally, factories said commodity costs increased sharply in this month. markit's chief economist chris williamson said, "while the consumer side of the u.s. economy appears to be nding a ne lease on life, the manufacturing sector is currently acting as a drag in terms of both economic growth and the labor market." purchasing managers told markit they think much of the weakness stems from uncertainty in europe and asia and concern about the fiscal cliff at home. dia
Search Results 0 to 49 of about 79 (some duplicates have been removed)